Member Info for nlmbidc

Great that you got a chance to talk to CP. Thanks for supplying the update here.

And another SE Asia project could be over the line by the time we realist as SundaGas Plc.

And maybe IMF update.....

Nlmbidc 30m

Drilling probably underway on Telen and a work plan for Timor Leste and an institutional investor in place.

Pie in the sky is food for thought!!

100 million Mcap Is not out of the question but I think half that would be a good target to AIM for.

Great figures until you look at where the 100 million Mcap Is coming from. Care to share?

Lots of things that are written on these boards could influence the way people vote on the EGM resolutions. So comments may not impact the share price, they could determine the outcome of the RTO.

The bond is already covered for Telen. SundaGas have their eyes on other prospects. So not sure what the fund raising is for.

However this RTO makes it very much more compelling. Telen if proven as a discovery is worth about 700 million dollars in the ground.

Timor Leste is over the line.

I'm back in.

Skittish,

All of barons assets do not add up to a third of 126 million barrels of oil and 208 billion cubic feet of gas. Dunrobins 15% only adds up to 28 million barrels.

Telen is going to be drilled in the first nine months of next year. By the time the RTO is completed and the new company (SundaGas Plc) is formed the information of drill dates will either be under way or a near term prospect. Which means the sp will climb as soon as the SundaGas Plc shares are available.

Gkb47.

You seem to have overlooked the other SundaGas assert. See below from RNS.

2. Telen Block, offshore Indonesia

SundaGas Indonesia Telen B.V. (a wholly-owned subsidiary of Target) operates with a 100% working interest the Telen Production Sharing Contract (the "Telen PSC"), offshore Indonesia, containing the Hiu Marah drill-ready prospect, which has independently audited best estimate prospective resources of 126 million barrels of oil and 208 billion cubic feet of gas. The Telen PSC was acquired from TOTAL in March 2018. SundaGas is currently running a process to farm out the drilling of the proposed Hiu Marah well which is currently required to be drilled by 8 October 2020. The exploration phase of the Telen PSC runs until 8 October 2022.

When will the EGM be?

I'm guessing it will be this year. They need to give a minimum of 3 weeks notice. I assume the shape of the SPA will need to be completed first.

This has been in the mind of both companies for over 3 years IMHO.

SundaGas Plc could have been setup without Baron doing the RTO.

Just Re-read the RNS. This bit stands out:

This Proposed Transaction will be transformational for our shareholders and we look forward to reporting back on progress in due course.

Note: will be transformational for shareholders, not could be!!

I think MB wants to retire......

I think this merger has been on the cards since 2016 when the first tie-up with SundaGas was mooted in 2016.

As others have said it will be easy to raise funds on the London market if there are any juicy prospects that are unearthed in SE Asia.

Don't forget that the SundaGas guys built up a huge business (mostly for other beneficiaries) before setting up SundaGas.

The guys have got previous.

Can only be very good news indeed.

It looks like good news to me. The directors have skin in the game.

SundaGas already have a PSC that is producing.

Far from it. This is great news.